Just after its equity crowdfunding campaign surpassed £675,000 on Crowdcube, London-based Hop Stuff Brewery announced it is set to close the funding round once it reaches £800,000. The brewery launched the initiative last month and quickly attracted its initial £400,000 funding target. Founded in 2013, Hop Stuff Brewery revealed it is currently on a mission to make craft beer more “approachable to everyday people. The brewery raised £58,120 through its first Crowdcube campaign.
“We focus on social experiences and work with pubs and bars across the UK (and around the world) to ensure people can enjoy a great beer without feeling daunted by the crazy world of Craft Beer. To our knowledge we are the only London brewery to be investing heavily in a Taproom expansion, aiming to open at least 8 by the end of 2019! Our Taprooms allow us to help people experience our beer in the way we want! With a new 65hl brewhouse to support our network, high internal sales as well as a growing international business we believe that Hop Stuff Brewery is the best placed brewer in the UK for rapid expansion.”
All funds from the Crowdcube campaign will be used to continue Hop Stuff’s expansion. The company also revealed a breakdown of where the funds will go.
- Original £400,000: Taproom expansion, 2 new sites and working capital for each
- Overfund £500,000: Taproom expansion and new Lab Equipment for HSB allowing us to reach BRC standards sooner
- Overfund £600,000: Taproom expansion, Lab Equipment, Investment into foreign markets to increase our footprint overseas in Asia and North America specifically
- Overfund £800,000: All of the above plus cash reserves to allow us to move quickly should a perfect property appear on the market
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